Paragon and Fleet unveil new BTL mortgage rates

Paragon Bank has announced a range of limited-edition buy to let mortgages with attractive rates and flexible options.

The new mortgages offer fixed interest rates for five years, with options to suit different financial needs.

Rates start from 4.74% for single self-contained properties with an EPC rating of A-C and a loan-to-value (LTV) of up to 65%.

Borrowers with lower deposits or properties with lower EPC ratings will find options with slightly higher rates.

Individual and limited company applications

Paragon Bank offers three fee options for these mortgages: 5%, 3%, and nil fee.

The new mortgages are available for both individual and limited company applications in England, Scotland, and Wales.

The lender’s product manager, James Harrison, said: “We’re keen to support landlords through a range of product options and these limited editions 5%, 3% and nil fee 65% LTV mortgages provide customers with more choice.

“Offered at a lower loan-to-value of 65%, these products will be particularly appealing to those that can put down a slightly larger deposit to benefit from lower rates.”

Fleet Mortgages expands its BTL options

Meanwhile, Fleet Mortgages has relaunched its range of five-year fixed-rate products, offering both fixed and zero-fee options at 65% and 75% loan-to-value (LTV).

Borrowers seeking the lowest possible interest rate can choose a fixed-fee option, with rates starting at 5.39% for standard and limited company properties at 65% LTV.

Those looking to minimise upfront costs can opt for a zero-fee product, with rates starting at 5.64% for standard and limited company properties at 65% LTV.

Rates for HMO/multi-unit block properties are slightly higher.

Options for landlord borrowers

Steve Cox, the chief commercial officer at Fleet Mortgages, said: “Our range is all about offering advisers a growing number of options for their landlord borrowers, whether they wish to have lower upfront costs, via a zero-fee option, or want the cheaper rate with a fixed fee.

“These products are designed to provide choice based on the landlord borrower’s priority and with rates available across both 65% and 75% LTV options, we believe they will be affordable and accessible for the widest array of landlords possible, whether purchasing or seeking to refinance properties.”

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